Has anyone noticed how the bullion exchanges let you pay with crypto?

[tread93]

Have you guys bought any bullion with crypto as of late? I've always noticed this feature but have never done it myself & was curious if anyone has & could share their experience. It looks like most of the big bullion exchanges do & I find that to be pretty bad ass that you can exchange for gold or silver with a pretty nice selection of crypto at any moments notice.

[MoparMiningLLC]

I have not recently but as far back as 2022 maybe 2021? I have done some group buys and several did allow for payment with Bitcoin.

[Honeybadger2014]

exchanging bitcoin for gold was my first transaction.  of course, I did that in my first bear market when I started to wonder about the value of bitcoin.  The year was 2015.  and funny enough, I bought the gold from Peter Schiff cie!!!  So i would say that they have been accepting bitcoin (maybe not all crypto) for much longer.

This was the worst mistake of my life as I traded all my bitcoins for 1oz of a shiny rock.  I thought i could mine the bitcoins again... little did i know how much harder it was about to become. 

But on a positive note, this was also the best learning episode of my bitcoin journey.  you could actually get real world value with my fake digital money mined in my garage.... i was hooked...

[MoparMiningLLC]

Dollars are still strong and able to purchase lots of cool stuff. Although crypto is making headway in eroding that position of supremacy. Crypto is starting to become the most powerful form of transactional medium, but it's not quite there yet.  

Dollar still works really well, but it is becoming diluted and people are losing faith in the dollar system.

Gold and silver are super solid for trade and barter, 1/10th ounce coins can be used to trade for food, supplies, energy or smokes in a time of need.

I would never refuse silver or gold in exchange for my products.

this is why I am glad to hold zero Fiat.

[aoluain]

exchanging bitcoin for gold was my first transaction. 

I wouldnt say you were alone in that move and I would say there are others
still doing it at opportune times.

Dollar still works really well, but it is becoming diluted and people are losing faith in the dollar system.

Gold and silver are super solid for trade and barter, 1/10th ounce coins can be used to trade for food, supplies, energy or smokes in a time of need.

I think its only a very small percentage of the population who see this. I suppose
the thinking is that FIAT isnt going to disappear so why bother holding Gold
and/or Silver.

What joe soap would be able to verify that the silver or Gold coin they receive
as payment is 100% true without a dedicated scale or something.

this is why I am glad to hold zero Fiat.

I dont hold any FIAT either Mopar. Bitcoin trumps them all. But as a medium
of payment ATM its not as easy to pay for "everything".

[MoparMiningLLC]

I dont hold any FIAT either Mopar. Bitcoin trumps them all. But as a medium
of payment ATM its not as easy to pay for "everything".

I use coincards.com to buy gift cards with Bitcoin to use at places that dont accept Bitcoin, and I use thebitcoincompany app to buy prepaid visa cards as well.

if all else fails, I use my gemini card to pay with fiat then use Bitcoin to pay the bill.

[rsincognito]

i remember back in 2017 when i would day trade, every time i would get up to about enough profit in btc to buy 1 gold oz i would,  well we all know that didnt turn out so well,  lol  (thats before i understood bitcoin)

[tread93]

I dont hold any FIAT either Mopar. Bitcoin trumps them all. But as a medium
of payment ATM its not as easy to pay for "everything".

I use coincards.com to buy gift cards with Bitcoin to use at places that dont accept Bitcoin, and I use thebitcoincompany app to buy prepaid visa cards as well.

if all else fails, I use my gemini card to pay with fiat then use Bitcoin to pay the bill.

Wow you’ve really got this down to a science haven’t you Mopar. Well good on ya then m8! Don’t you still use a bank account for some things on the daily or are you completely Bitcoin?

[MoparMiningLLC]

I dont hold any FIAT either Mopar. Bitcoin trumps them all. But as a medium
of payment ATM its not as easy to pay for "everything".

I use coincards.com to buy gift cards with Bitcoin to use at places that dont accept Bitcoin, and I use thebitcoincompany app to buy prepaid visa cards as well.

if all else fails, I use my gemini card to pay with fiat then use Bitcoin to pay the bill.

Wow you’ve really got this down to a science haven’t you Mopar. Well good on ya then m8! Don’t you still use a bank account for some things on the daily or are you completely Bitcoin?

closest thing I have to a bank is the routing and account numbers i have for fold and strike. No actual bank account.

[OgNasty]

Bullion has always been the first product to be sold for Bitcoin. I remember TraderSteve here selling me my first silver coin for BTC back in 2011. I also had a storefront shortly thereafter that sold silver coins for Bitcoin. I remember in December of 2011 I went on a trip and had 10 orders for silver come through. I was terrified I wouldn’t be able to sell the 250 BTC before the price went down and I lost money on the sales. Seems like a ridiculous concern looking back.

[owlcatz]

Bullion has always been the first product to be sold for Bitcoin. I remember TraderSteve here selling me my first silver coin for BTC back in 2011. I also had a storefront shortly thereafter that sold silver coins for Bitcoin. I remember in December of 2011 I went on a trip and had 10 orders for silver come through. I was terrified I wouldn’t be able to sell the 250 BTC before the price went down and I lost money on the sales. Seems like a ridiculous concern looking back.

Yep, apmex and the other big boys have been doing it for years for sure. OFC, as a business I'm sure they just used it as payment processing and probably cashed it all out for dirty fiat.

closest thing I have to a bank is the routing and account numbers i have for fold and strike. No actual bank account.

Damn that's ballsy. Always had cash on hand myself here, cuz well cash is king in many cases.

Plus, this kinda situation sucks too ....

[aoluain]

I dont hold any FIAT either Mopar. Bitcoin trumps them all. But as a medium
of payment ATM its not as easy to pay for "everything".

I use coincards.com to buy gift cards with Bitcoin to use at places that dont accept Bitcoin, and I use thebitcoincompany app to buy prepaid visa cards as well.

if all else fails, I use my gemini card to pay with fiat then use Bitcoin to pay the bill.

Myself and my Bitcoin buddy use Bitrefill.com to do the same, we can buy our weekly
groceries with their gift cards, very very very low fees!

Still need cash to be able to pay for other items like fuel otherwise asking to
pay with Bitcoin would be the same as asking to pay with Gold/silver bullion!

I dont hold any FIAT either Mopar. Bitcoin trumps them all. But as a medium
of payment ATM its not as easy to pay for "everything".

I use coincards.com to buy gift cards with Bitcoin to use at places that dont accept Bitcoin, and I use thebitcoincompany app to buy prepaid visa cards as well.

if all else fails, I use my gemini card to pay with fiat then use Bitcoin to pay the bill.

Wow you’ve really got this down to a science haven’t you Mopar. Well good on ya then m8! Don’t you still use a bank account for some things on the daily or are you completely Bitcoin?

closest thing I have to a bank is the routing and account numbers i have for fold and strike. No actual bank account.

Wow Mopar thats something!


Ill bet there are preppers and survivalists who have stashes of FIAT, Gold and Silver
for times of emergencies and disaster situations.

[andulolika]

I dont hold any FIAT either Mopar. Bitcoin trumps them all. But as a medium
of payment ATM its not as easy to pay for "everything".

I use coincards.com to buy gift cards with Bitcoin to use at places that dont accept Bitcoin, and I use thebitcoincompany app to buy prepaid visa cards as well.

if all else fails, I use my gemini card to pay with fiat then use Bitcoin to pay the bill.

Myself and my Bitcoin buddy use Bitrefill.com to do the same, we can buy our weekly
groceries with their gift cards, very very very low fees!

Still need cash to be able to pay for other items like fuel otherwise asking to
pay with Bitcoin would be the same as asking to pay with Gold/silver bullion!

I dont hold any FIAT either Mopar. Bitcoin trumps them all. But as a medium
of payment ATM its not as easy to pay for "everything".

I use coincards.com to buy gift cards with Bitcoin to use at places that dont accept Bitcoin, and I use thebitcoincompany app to buy prepaid visa cards as well.

if all else fails, I use my gemini card to pay with fiat then use Bitcoin to pay the bill.

Wow you’ve really got this down to a science haven’t you Mopar. Well good on ya then m8! Don’t you still use a bank account for some things on the daily or are you completely Bitcoin?

closest thing I have to a bank is the routing and account numbers i have for fold and strike. No actual bank account.

Wow Mopar thats something!


Ill bet there are preppers and survivalists who have stashes of FIAT, Gold and Silver
for times of emergencies and disaster situations.

You dont really need cash to pay for fuel , crypto.com card will do the job. Cash is still better than on-line transactions.

[MoparMiningLLC]

@owlcatz - sometimes I do have cash - ie the kids pay their portion of the cell bill (we have many lines on our bill that get used by a few of our children) I just dont hodl it or keep it long.  The hard part is there are starting to be more and more places that will not take cash - there are some here that will even go as far as charge you more if you use cash. There is one place, for example, that charges 3% more to use cash.

[markinaz]

I tried silver/gold during the bull of 2017.  I timed the sale pretty well, and liquidated all of the gold that I acquired in 2017 back for Bitcoin, so the play worked out overall.  I never calculated it, but think I did better than selling for $.